Oil gains after draw in U.S. inventories

LONDON (Reuters) - Oil prices rose on Wednesday after a reported sharp drop in U.S. crude stocks as OPEC member Iraq said the producer group will discuss whether to deepen output cuts.Brent crude futures gained 74 cents, or 1.25%, to $63.12 a barrel by 0857 GMT, while West Texas Intermediate futures were up 81 cents, or 1.4%, at $58.21 a barrel.Oil prices have risen more than 7% this month, supported by declines in global inventories and signs of an easing in trade tensions between the United..